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Below are Views On Sun Pharma 3QFY21 By Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd   

Sunpharma reported another stellar quarter numbers in Q3FY21. Sun Pharmaceutical Industries Limited consolidated revenue from operations for Q3FY21 stood at ₹8,782 crores up by 9.2% YoY from ₹8,038 crores in Q3FY20. Domestic business has done well for the company, the company reported sales growth of 9.4% in domestic business While the USA and emerging market registered a growth of 7% and 4.7% respectively. EBITDA for Q3FY21 stood at ₹2,351 crores up by 36.3% as compared to ₹1724 crores in Q3FY20. Company reported EBITDA margins of 26.8% which are better than last quarter. Profit after tax for the quarter up by 102.8% at ₹1,852 crores in Q3FY21 as compared to ₹913 crores in Q3FY20. In Q3FY21 the company reported PAT margins of 21.1%. Indian formulation business and Rest of world business have done very well for the company, reporting revenue growth of 9.4% and 11.7% respectively. While emerging market businesses struggle to keep the momentum and reported a sales growth of 4.7% only. We expect the company to continue to do well in Indian market and will improve its revenue growth in the USA market as well as the Emerging market. We have a Neutral outlook towards. Sun Pharmaceutical Industries Limited

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